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Claims tag returned 121 results

  • Asia Pacific has the highest percentage of medical claims fraud

    Asia Pacific has the highest percentage of medical claims fraud, sitting at 4%. This is double that of the EMEA region and almost triple that of the US. The insurance industry loses about $1 billion in fraudulent medical claims each year, but it does not have the time, resources and scale to combat the problem. This was the problem that RGA attempted to solve with their claims adjudication automation solution.

    Agents | 07 Feb 2021
  • Asia Pacific sees highest percentage of medical claims fraud

    The insurance industry loses about $1bn in fraudulent medical claims each year, but it does not have the time, resources and scale to combat the problem. Asia Pacific also has the highest percentage of claims fraud, sitting at 4%; this is double that of the EMEA region and almost triple that of the US. This was the problem that RGA attempted to solve with their claims adjudication automation solution.

    Asia | 03 Feb 2021
  • Australia: Hays identifies insurance skills most in demand this year

    Within Australia's insurance job market, the skills in greatest demand this year include those of brokers with a Tier 1 qualification and at least five years of experience, according to a report by the global recruitment and human resources services firm, Hays.

    Asia | 12 Jan 2021
  • Claims: Level of customer satisfaction high in US

    Insurance consumers in US are generally more satisfied with the digital claims channels of their insurers than the consumers in the UK, Australia, New Zealand and Hong Kong.

    AIRPlus | 22 Dec 2020
  • South Africa: Unemployment fund to pay billions in outstanding COVID-19 TERS benefits

    South Africa's workers who did not receive their COVID-19 Temporary Employment Relief Scheme (TERS) benefit payment from the Unemployment Insurance Fund (UIF) have been assured that payment re-runs for outstanding claims were under way for the period of April to 15 September, starting mid-December.

    Asia | 18 Dec 2020
  • Nepal: Industry overwhelmed with COVID-19 claims

    The insurance industry in Nepal has settled less than 50% of the total COVID-19 claims lodged till date causing huge distress to policyholders leading to government intervention in the matter.

    Asia | 18 Dec 2020
  • Australia: Business interruption appeal documents warn of $10bn claims total

    The Insurance Council of Australia (ICA) is looking to overturn a New South Wales Court of Appeal test case decision that found two policy wordings citing the now repealed Quarantine Act 1908 could not be used to exclude cover for disruptions caused by the COVID-19 outbreak.

    Asia | 18 Dec 2020
  • Global insured catastrophe losses in 2020 hit $83bn

    Insurance industry losses from natural catastrophes and manmade disasters globally amounted to $83bn in 2020, according to Swiss Re Institute's preliminary sigma estimates. This makes it the fifth-costliest year for the industry since 1970.

    AIRPlus | 16 Dec 2020
  • A look at COVID-19 BI claims lodged in Asia

    Governments across Asia undertook a range of containment measures, including increased public health advice and monitoring, restrictions to international travel and national lockdowns. In many countries, all companies barring the most essential were ordered to close, and employees instructed to work from home. While brokers and policyholders are looking for clarity on policy coverage in the event of widepread viral infectious disease, few claims have actually been lodged.

    AIRPlus | 13 Oct 2020
  • Insurance brokers can be sued for denied BI claims

    While court cases regarding the denial of pandemic-related business interruption claims by insurers continue globally, insurance brokers can expect to be sued if their clients' claims are denied.

    Asia | 08 Oct 2020


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